Leach & Partners, a joint venture between Conall McGuire of Warsaw Properties (part of the stock-listed Setanta S.A.) and Tom Leach of Leach & Lang Property Consultants, has been selected to take care of the building administration, property-level book-keeping, letting and property management of the residential building at ul. Pereca 11 in Warsaw recently acquired by Bouwfonds European Residential Fund (BERF) from Matexi Poland.
The building, which is currently undergoing fit-out, is situated approx 400 metres from the Rondo ONZ roundabout on the boundary of Warsaw’s CBD. It will comprise approx 9,500 sqm with 193 apartments and ground-floor retail space. The building will be ready for occupation in the first months of 2018 and Leach & Partners are already dealing with enquiries from prospective commercial and residential tenants although letting will not be launched officially until autumn.
Leach & Partners, who manage over 1,000 residential units throughout Poland, are upbeat about the property. “It is of course an extremely central location with one foot in the CBD and one foot in Wola. We are sure it will prove popular with young professionals,” commented Conall McGuire.
Tom Leach added: “We are delighted to take on this mandate from Bouwfonds in what we see as a burgeoning sector of the real estate market. We have been in the business of managing rental properties for well over a decade now for private landlords and it was only a matter of time before institutional investors followed. We are excited to be involved at the vanguard of this potential revolution in the Polish residential market.”